AI in 2021: at the Crossroads of Psychology and Business
The essence of AI is mathematics. The ‘two plus two equals four’ kind. These equations increasingly power business decisions, as data can be incredibly accurate and targeted at explaining the historical, statistical what’s — what was purchased, at what time, what price.
But data is not good at explaining the psychological why’s. And in real life, there are many instances where numbers lie. In political math, in art, sometimes even in judicial systems. Our world is complex. Or lives far from adding two to two.
If AI’s aim is to build machines that are supposed to ‘think’ and act in ways based on human intelligence, how smart is it to leave the psychologically derived insights, the why’s, out?
Pandora’s Black Box
AI has come a long way since its early days, now combining neuroscience, computer science, philosophy, ethics, and, finally, psychology. But today AI has also reached such complexity that some began to call it the Black Box — because really, how many of us can explain to the average Joe or Jane, in simple words, how an AI model makes decisions in the blink of an eye? Decisions that determine whether Joe is eligible for a loan at a critical time in his life, or the type of payment terms Jane will receive.
Some say the human mind, too, is a Black Box, that human behavior is a mystery. Fortunately, the latest developments in psychology shed new light on the human mind, extensively modeling it. These models can fill in the gaps and can complement the current blind spots in AI.
Connecting computer scientists with psychologists
The world of artificial intelligence is full of intelligent engineers. But it doesn’t mean they understand that intelligence is a psychological concept, and that it also includes social and emotional intelligence, on top of cognitive abilities. Without the support of psychology, AI is, at best, a very crude imitation of intelligence. Just look at all the scandals around AI biases, from flawed criminological software to racism in healthcare.
Today, perhaps unsurprisingly, a growing number of experts support the idea of incorporating psychology into AI. At Motiv8AI, our team of psychologists and AI engineers created EmpathAI™, a patented and field-proven behavioral prediction technology that combines cutting-edge psychological techniques with complex mathematical modeling to predict an individual’s future actions.
The industry secret behind EmpathAI™
EmpathAI™ combines the latest psychology testing theories with a rigorous psychological mapping of the individual based on their mobile interactions and digital footprints — all obtained through consent. Thanks to many years of research and development, EmpathAI™ is able to accurately calculate the correlation between behavioral mobile usage and individual psychological profiles.
To test the real-world efficacy of EmpathAI™ we undertook several case studies in different sectors — from finance to human resources. All studies underscored the importance of understanding the human why’s and led to tangible positive results. Our micro-lending case study, for example, showed how EmpathAI™ was able to increase loan approval by 30% without increasing the risk of loan delinquency and default, as well as lower default rate by 25%.
EmpathAI™ is a fully psychology-driven AI technology platform, illuminating the Black Box of the human mind to improve end-user experience and businesses everywhere.
